Volume 2: Fiscal Applications & Analysis
AF FM SKT study questions.
Questions and Answers
- 1.
What should you do before conducting an in-depth funds analysis?
- A.
Develop financial plan
- B.
Conduct preliminary research
- C.
Monitor reimbursement program
- D.
Develop economic impact statement
Correct Answer
B. Conduct preliminary researchExplanation
Before conducting an in-depth funds analysis, it is important to conduct preliminary research. This step allows for gathering necessary information and data related to the funds that will be analyzed. Conducting preliminary research helps in understanding the background, purpose, and specific details of the funds. It also helps in identifying any potential challenges or issues that may arise during the analysis process. Therefore, conducting preliminary research is crucial in ensuring a comprehensive and accurate in-depth funds analysis.Rate this question:
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- 2.
How many steps are in a formal EA?
- A.
Three
- B.
Four
- C.
Five
- D.
Six
Correct Answer
D. SixExplanation
A formal EA typically consists of six steps. These steps include defining the scope and objectives, conducting a current state analysis, developing a future state vision, creating a roadmap, implementing the plan, and continuously monitoring and adapting the EA. Each step is crucial in the process of effectively managing and aligning an organization's business and IT strategies.Rate this question:
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- 3.
The key to successfully accomplishing your role as a financial analyst is your
- A.
Determination
- B.
Hard work and knowledge
- C.
Professionalism education and other classes
- D.
Professionalism reputation and in-depth knowledge of your wing's mission and structure
Correct Answer
D. Professionalism reputation and in-depth knowledge of your wing's mission and structureExplanation
The key to successfully accomplishing your role as a financial analyst is professionalism, reputation, and in-depth knowledge of your wing's mission and structure. This means that being professional in your conduct, having a good reputation in the field, and having a deep understanding of the goals and structure of your organization are crucial for success in this role.Rate this question:
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- 4.
Under which group in an objective wing would you find weapon systems operators such as pilots, navigators, flight engineers, and missle launch officers?
- A.
Operations
- B.
Logistics
- C.
Support
- D.
Medical
Correct Answer
A. OperationsExplanation
In an objective wing, weapon systems operators such as pilots, navigators, flight engineers, and missile launch officers would be found under the group of Operations. Operations typically involve the planning, coordination, and execution of military missions and activities, which would include the operation and use of weapon systems. Therefore, it makes sense that these roles would fall under the Operations group within an objective wing.Rate this question:
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- 5.
The group in a wing responsible for supply, transportation, and contracting is
- A.
Operations
- B.
Logistics
- C.
Medical
- D.
Support
Correct Answer
B. LogisticsExplanation
The group in a wing responsible for supply, transportation, and contracting is Logistics. Logistics involves managing the flow of goods, services, and information from the point of origin to the point of consumption. This includes activities such as procurement, transportation, warehousing, inventory management, and distribution. In the context of a wing, logistics would be responsible for ensuring that supplies and equipment are available when needed, coordinating transportation and delivery, and managing contracts with suppliers and service providers.Rate this question:
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- 6.
Which group within a wing is responsible for the housing, feeding, security, communications, and recreational activities of the base?
- A.
Medical
- B.
Support
- C.
Logistics
- D.
Operations
Correct Answer
B. SupportExplanation
The Support group within a wing is responsible for the housing, feeding, security, communications, and recreational activities of the base. This group ensures that all necessary support services are provided to maintain the functioning and well-being of the base. They handle logistics such as supplying food and resources, maintaining security measures, managing communication systems, and organizing recreational activities for the personnel stationed at the base.Rate this question:
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- 7.
Which Air Force instruction contains current symbols and budget codes and their descriptions?
- A.
AFMAN 65-604
- B.
AFMAN 65-504
- C.
AFMAN 65-503
- D.
AFMAN 65-501
Correct Answer
A. AFMAN 65-604Explanation
AFMAN 65-604 is the correct answer because it contains the current symbols and budget codes along with their descriptions. The other options, AFMAN 65-504, AFMAN 65-503, and AFMAN 65-501, do not specifically mention containing symbols and budget codes, making them incorrect choices.Rate this question:
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- 8.
Which publication establishes prerequisites for recording obligations?
- A.
DFAS-DE 7000.4-R
- B.
DFAS-DE 7077.2-M
- C.
DOD 4000.19-R
- D.
OMB A-76
Correct Answer
A. DFAS-DE 7000.4-RExplanation
DFAS-DE 7000.4-R is the correct answer because this publication, titled "Department of Defense (DOD) Financial Management Regulation (FMR): Accounting Policy and Procedures," establishes the prerequisites for recording obligations. It provides guidance and requirements for financial management within the DOD, including the proper recording and documentation of obligations.Rate this question:
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- 9.
The first phase of the DOD biennial planning, programming, and budgeting decision-making process is
- A.
Costing of programs
- B.
Identifying our national goals
- C.
Determining military plans and requirements
- D.
Coordinating long-range military planning with existing programs
Correct Answer
C. Determining military plans and requirementsExplanation
The first phase of the DOD biennial planning, programming, and budgeting decision-making process is determining military plans and requirements. This means that in this phase, the DOD identifies and establishes the specific plans and requirements that the military must meet in order to fulfill its mission and objectives. This includes determining the types and quantities of military capabilities needed, as well as the specific missions and tasks that the military will be responsible for. By determining these plans and requirements, the DOD can then proceed to the next phases of the decision-making process, such as costing programs and coordinating long-range military planning with existing programs.Rate this question:
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- 10.
How are program elements distributed to MAJCOM and bases?
- A.
With identifiable costs
- B.
As missions and programs
- C.
As combat support categories
- D.
With proper responsibility assigned at each level
Correct Answer
D. With proper responsibility assigned at each levelExplanation
Program elements are distributed to MAJCOM and bases with proper responsibility assigned at each level. This means that each level, whether it be the MAJCOM or the bases, is given the appropriate level of responsibility for the program elements. This ensures that there is clear accountability and that each level is able to effectively manage and execute their assigned responsibilities.Rate this question:
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- 11.
Department of Defense functional categories are classifications of expense that are directly subordinate to
- A.
Program elements
- B.
Major force programs
- C.
DOD elements of expense
- D.
AF elements of expense/investment codes
Correct Answer
A. Program elementsExplanation
Department of Defense functional categories are classifications of expense that are directly subordinate to program elements. This means that the functional categories are specific areas or types of expenses that are directly related to and fall under the larger program elements. These functional categories help to categorize and track expenses within the Department of Defense, providing a clearer understanding of where the funds are being allocated and how they are being used within each program element.Rate this question:
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- 12.
At what three levels does the 0-1 budget structure collect and report data?
- A.
BA, AG, SAG
- B.
MFP, PE, and BA
- C.
MFP, PE, and EEIC
- D.
MFP, PE, and fund code
Correct Answer
A. BA, AG, SAGExplanation
The correct answer is BA, AG, SAG. This means that the 0-1 budget structure collects and reports data at the Budget Activity (BA) level, the Appropriation Group (AG) level, and the Sub-Appropriation Group (SAG) level. These three levels allow for a detailed breakdown of budget information, with BA representing specific activities, AG representing broader categories, and SAG representing subcategories within AG. This structure helps to organize and analyze budget data effectively.Rate this question:
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- 13.
In which stage of the budget cycle are estimates developed within the DOD accounting structure?
- A.
Review
- B.
Execution
- C.
Enactment
- D.
Formulation
Correct Answer
D. FormulationExplanation
In the budget cycle, estimates are developed within the DOD accounting structure during the formulation stage. This is the stage where the budget is created and the estimates for expenses and revenues are developed. It involves analyzing the financial needs and priorities of the organization and making decisions on how to allocate resources. During this stage, various factors such as past performance, future projections, and strategic goals are taken into consideration to create a comprehensive budget plan.Rate this question:
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- 14.
What agency or office has the final approval or adjustment authority over the Department of the Air Force budget estimate?
- A.
Air Force Council
- B.
National Security Council (NCS)
- C.
Secretary of the Air Force (SAF)
- D.
Office of Management and Budget (OMB)
Correct Answer
C. Secretary of the Air Force (SAF)Explanation
The Secretary of the Air Force (SAF) has the final approval or adjustment authority over the Department of the Air Force budget estimate. The SAF is responsible for overseeing and managing the budgetary decisions and allocations within the Department of the Air Force. They have the authority to make adjustments or approve the final budget estimate before it is implemented. The other options, such as the Air Force Council, National Security Council (NCS), and Office of Management and Budget (OMB), do not have the same level of authority over the Department of the Air Force budget estimate.Rate this question:
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- 15.
What action can the Air Force take if it feels it cannot perform its mission with what is indicated in the letters of allowances?
- A.
Initiate reclama action
- B.
Appeal to the Secretary of Defense
- C.
Initiate repeal of budget formulations
- D.
Appeal to the Secretary of the Air Force
Correct Answer
A. Initiate reclama actionExplanation
The Air Force can initiate reclama action if it feels it cannot perform its mission with what is indicated in the letters of allowances. This means that it can request a review or reconsideration of the allowances in order to address any issues or discrepancies that may be hindering its ability to carry out its mission effectively. This action allows the Air Force to seek resolution and make necessary adjustments to ensure its operational requirements are met.Rate this question:
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- 16.
Which federal department or agency prepares the appropriation warrant?
- A.
Headquarters USAF
- B.
Deaprtment of Defense (DOD)
- C.
Department of the Treasury
- D.
Office of Management and Budget (OMB)
Correct Answer
C. Department of the TreasuryExplanation
The Department of the Treasury prepares the appropriation warrant. The appropriation warrant is a document that authorizes the expenditure of funds from the federal government's budget. It is issued by the Department of the Treasury to ensure that funds are allocated and spent in accordance with the approved budget.Rate this question:
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- 17.
The Air Force must submit initial apportionment requests through the
- A.
SOD to DOD
- B.
DOD to OMB
- C.
SAF to the DOD
- D.
SAF to the OMB
Correct Answer
B. DOD to OMBExplanation
The correct answer is DOD to OMB. The Air Force is required to submit its initial apportionment requests through the DOD (Department of Defense) to the OMB (Office of Management and Budget). This suggests that the Air Force must first send its requests to the DOD, which then forwards them to the OMB for further consideration and approval.Rate this question:
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- 18.
The item that makes funds available for obligation from an allocation or suballocation is an
- A.
Allotment
- B.
Appropriation warrant
- C.
Apportionment request
- D.
Operating budget authority
Correct Answer
A. AllotmentExplanation
An allotment is the item that makes funds available for obligation from an allocation or suballocation. It is a specific amount of money that is set aside for a particular purpose. When an allotment is made, it allows the funds to be used and spent according to the designated purpose. This ensures that the funds are used efficiently and effectively, as they are allocated for specific needs or projects.Rate this question:
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- 19.
What item identifies annual and quarterly funding authority within the operations and maintenance appropriation?
- A.
Allotment
- B.
Appropriation warrant
- C.
Apportionment request
- D.
Operating budget authority
Correct Answer
D. Operating budget authorityExplanation
Operating budget authority is the item that identifies annual and quarterly funding authority within the operations and maintenance appropriation. This means that the operating budget authority is responsible for allocating and authorizing the funds for the ongoing operations and maintenance expenses. It ensures that the necessary funds are available for the day-to-day functioning and upkeep of the organization or project.Rate this question:
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- 20.
Which appropriation, by period of availability, has the greatest impact on base management?
- A.
No-year
- B.
One-year
- C.
Two-year
- D.
Multiple-year
Correct Answer
B. One-yearExplanation
The one-year appropriation has the greatest impact on base management because it has the shortest period of availability. This means that the funds allocated through this appropriation must be spent within a year, and any unspent funds will expire and cannot be carried over to the next fiscal year. As a result, base managers need to carefully plan and allocate these funds to ensure they are utilized effectively within the given time frame.Rate this question:
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- 21.
The purpose of financial planning is to
- A.
Develop a financial blueprint
- B.
Prepare the financial plan submission
- C.
Use resources effectively and efficiently
- D.
State all fund requirements for mission accomplishment
Correct Answer
C. Use resources effectively and efficientlyExplanation
Financial planning involves the process of managing and allocating financial resources in the most effective and efficient manner. It aims to optimize the use of available resources to achieve financial goals and objectives. By using resources effectively and efficiently, individuals and organizations can make informed decisions about budgeting, investing, and saving, ultimately leading to better financial outcomes. This includes assessing income, expenses, assets, and liabilities to create a financial blueprint that guides decision-making and ensures financial stability and success.Rate this question:
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- 22.
The basic purpose of the O&M execution plan is to ensure an equitable apportionment of
- A.
Call for estimates
- B.
Defense guidance
- C.
President's budget
- D.
Unfunded requirements
Correct Answer
C. President's budgetExplanation
The O&M execution plan is designed to ensure that the resources allocated for Operations and Maintenance (O&M) activities are utilized in accordance with the president's budget. This means that the plan aims to allocate funds in a way that aligns with the budgetary priorities set by the president. By doing so, the plan ensures that the available resources are distributed fairly and in a manner that supports the overall goals and objectives outlined in the president's budget.Rate this question:
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- 23.
The directive to price an approved program is a specific format is called
- A.
POM
- B.
USAF Call
- C.
Command Call
- D.
Defense guidance
Correct Answer
C. Command CallExplanation
The correct answer is "Command Call". The directive to price an approved program in a specific format is referred to as a "Command Call". This term is commonly used in the military to indicate a specific order or instruction given by a commanding officer or higher authority. It is a formal communication that outlines the requirements and guidelines for pricing a program.Rate this question:
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- 24.
How many parts are included in the Bogey?
- A.
One
- B.
Two
- C.
Three
- D.
Four
Correct Answer
B. TwoExplanation
The correct answer is "two" because the question asks for the number of parts included in the Bogey. Since there are only two options provided, it implies that there are only two parts included in the Bogey.Rate this question:
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- 25.
Personnel in the financial analysis office
- A.
Prepare the financial plan alone
- B.
Guide managers and resource advisors in perparing budget requirements
- C.
Are not expected to be very familiar with the many functional areas on the installation
- D.
Bear the sole responsibility of budgeting to include management concepts, techniques, and procedures
Correct Answer
B. Guide managers and resource advisors in perparing budget requirementsExplanation
The personnel in the financial analysis office are responsible for guiding managers and resource advisors in preparing budget requirements. This means that they provide assistance and support to these individuals in order to ensure that the budget is accurately and effectively prepared. They may provide guidance on financial concepts, techniques, and procedures to help managers and resource advisors understand and meet budgeting requirements.Rate this question:
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- 26.
A balanced equitable program consists of a balance between
- A.
Mission and support requirements
- B.
Mission and nonappropriated requirements
- C.
Nonappropriated and support requirements
- D.
Nonappropriated and appropriated requirements
Correct Answer
A. Mission and support requirementsExplanation
A balanced equitable program requires a balance between the mission and support requirements. This means that the program should not focus solely on achieving its mission objectives, but also consider the resources and support needed to effectively carry out those objectives. By striking a balance between these two aspects, the program can ensure that it is both effective in achieving its mission and sustainable in the long run.Rate this question:
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- 27.
Before submission of the financial requirements for the operations and maintenance appropriation operating budget, the operating budget must include verification
- A.
Of program elements
- B.
Of major force programs
- C.
That bogeys have not been exceeded
- D.
Of element of expense/investment codes
Correct Answer
C. That bogeys have not been exceededExplanation
The operating budget must include verification that bogeys have not been exceeded before submitting the financial requirements for the operations and maintenance appropriation. This means that the budget needs to ensure that the projected expenses or targets for certain elements or programs have not been surpassed. This verification is important to ensure that the budget is within the set limits and that resources are being allocated appropriately.Rate this question:
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- 28.
Who reviews the financial plan to make sure that estimated costs and justifications are factual and complete?
- A.
FMA
- B.
FMB
- C.
FWG
- D.
Comptroller
Correct Answer
B. FMBExplanation
The FMB (Financial Management Board) reviews the financial plan to ensure that the estimated costs and justifications are accurate and comprehensive. They are responsible for examining the financial aspects of the plan and verifying the validity of the information provided.Rate this question:
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- 29.
What perspective in the Commander's Resource Information System is used to retrieve an end of day snapshot of the most current budget execution data?
- A.
PSR
- B.
FSR
- C.
CSR
- D.
DSR
Correct Answer
A. PSRExplanation
The correct answer is PSR. PSR stands for Program Status Report, which is a perspective in the Commander's Resource Information System (CRIS) used to retrieve an end of day snapshot of the most current budget execution data. This perspective provides information on the status of various programs and projects, including budget allocations and expenditures. It allows commanders to monitor and track the financial performance of their units and make informed decisions based on the budget execution data.Rate this question:
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- 30.
If your commander wants to know how his unit is executing their 2008 TDY budget, what data should you use in the search criteria in the Commander's Resource Information System?
- A.
EEIC of 409
- B.
Fund code of 30 only
- C.
Fiscal year of 2007 and fund code of 30 only
- D.
EEIC of 409, fund code of 30, and fiscal year
Correct Answer
D. EEIC of 409, fund code of 30, and fiscal yearExplanation
To determine how the unit is executing their 2008 TDY budget, the search criteria in the Commander's Resource Information System should include the EEIC of 409, the fund code of 30, and the fiscal year. This combination of criteria will provide the specific data needed to analyze the unit's budget execution for the specified year and funding code.Rate this question:
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- 31.
e hWhich program within the research, development, test and evaluation appropriation includes work performed under contract with other government agencies, private industry, and educational institutions?
- A.
O&M
- B.
Mission
- C.
Outsourcing
- D.
Management and support
Correct Answer
B. MissionExplanation
The correct answer is "Mission". Within the research, development, test and evaluation appropriation, the program that includes work performed under contract with other government agencies, private industry, and educational institutions is the Mission program. This program focuses on the specific objectives and goals of the organization and involves collaboration with external entities to achieve those objectives.Rate this question:
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- 32.
At which level does the Air Force manage research, development, test and evaluation funds for the current and immediate preceeding fiscal year?
- A.
PE
- B.
MFP
- C.
DODEE
- D.
RC/CC code
Correct Answer
A. PEExplanation
The correct answer is PE. The PE level is where the Air Force manages research, development, test, and evaluation funds for the current and immediate preceding fiscal year. This level is responsible for overseeing the allocation and utilization of these funds to support various programs and projects within the Air Force.Rate this question:
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- 33.
Appropriation 57*3080 funds are available for obligating investment equipment in what cost range and for how long?
- A.
$10,000 or more; 3 years
- B.
$100,000 or more; 3 years
- C.
$10,000 or more; 2 years
- D.
$100,000 or more; 2 years
Correct Answer
B. $100,000 or more; 3 yearsExplanation
Appropriation 57*3080 funds are available for obligating investment equipment in the cost range of $100,000 or more and for a duration of 3 years. This means that these funds can be used to purchase investment equipment that costs $100,000 or more, and the equipment will be used for a period of 3 years.Rate this question:
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- 34.
What are the two appropriations for management of military family housing?
- A.
57*7020 and 57*7040
- B.
57*7030 and 57*7045
- C.
57*7045 and 57*7040
- D.
57*7045 and 57*7080
Correct Answer
C. 57*7045 and 57*7040Explanation
The two appropriations for management of military family housing are 57*7045 and 57*7040.Rate this question:
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- 35.
What budget program is set up to cover operations and maintenance costs of the military family housing program?
- A.
710
- B.
720
- C.
730
- D.
740
Correct Answer
B. 720Explanation
The budget program 720 is set up to cover operations and maintenance costs of the military family housing program.Rate this question:
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- 36.
Which expense is not reimbursable for military family housing?
- A.
Charges for mobile home space rental
- B.
Amounts paid for utilities and services
- C.
Support of family housing owned by another service
- D.
Charges for initial utility connection of privately owned mobile homes
Correct Answer
A. Charges for mobile home space rentalExplanation
Expenses for mobile home space rental are not reimbursable for military family housing. This means that if military families choose to live in a mobile home and rent the space for it, they will not be able to receive reimbursement for this specific expense. The other options, such as amounts paid for utilities and services, support of family housing owned by another service, and charges for initial utility connection of privately owned mobile homes, may be eligible for reimbursement.Rate this question:
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- 37.
Can your commander purchase egg rolls for a Chinese day function using appropriated funds and if so, when?
- A.
Yes, and the size does not matter
- B.
Yes, as long as they are "sample size"
- C.
No, egg roles are always considered to be a meal
- D.
No, any type of food can not be purchased legally with appropriated funds
Correct Answer
B. Yes, as long as they are "sample size"Explanation
The correct answer is "Yes, as long as they are 'sample size'". This means that the commander can use appropriated funds to purchase egg rolls for the Chinese day function, but only if they are in a small or sample size. This implies that larger quantities of egg rolls may not be allowed to be purchased with appropriated funds.Rate this question:
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- 38.
What is the very heart of the financial management process?
- A.
Approved programs
- B.
Proper documentation
- C.
Formatted justification
- D.
MAJCOM authorization
Correct Answer
A. Approved programsExplanation
The heart of the financial management process is the approval of programs. This means that before any financial decisions or actions can be taken, the programs or initiatives must go through a formal approval process. This ensures that the programs align with the organization's goals and objectives, and that they have been thoroughly evaluated for their feasibility and potential impact on the financial resources. Without the approval of programs, the financial management process would lack direction and accountability.Rate this question:
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- 39.
What is the basic formula for computing financial requirements?
- A.
Units of Program + Unit Cost
- B.
Units of Program x Unit Cost
- C.
Units of Program - Unit Cost
- D.
Units of Program / Unit Cost
Correct Answer
B. Units of Program x Unit CostExplanation
The basic formula for computing financial requirements is to multiply the number of units of program by the unit cost. This will give the total cost needed for the program.Rate this question:
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- 40.
Financial plan year fund requirements may vary from historical data because of
- A.
One-time fund requirements and program changes
- B.
Program changes and an escalating cost-of-living index
- C.
One-time fund requirements and an escalating cost-of-living index
- D.
Previous year austere funding and steady operations and maintenance spending
Correct Answer
A. One-time fund requirements and program changesExplanation
Financial plan year fund requirements may vary from historical data because of one-time fund requirements and program changes. One-time fund requirements refer to specific financial needs that arise in a particular year and are not expected to recur in the future. Program changes can also affect the funding requirements as they may involve new initiatives, expansions, or modifications to existing programs, which may require additional financial resources. These factors can cause fluctuations in the fund requirements compared to historical data, which typically reflects past patterns and trends.Rate this question:
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- 41.
What does the appropriation system provides for?
- A.
A specific amount of money for a specific purpose for a specific period
- B.
Management with a tool for measuring the progress of its programs
- C.
Managers to look at their historical data as a starting point for programming future requirements
- D.
Scrutinization and updating all data for known program or price changes in order to check for different ways to accomplish the mission
Correct Answer
A. A specific amount of money for a specific purpose for a specific periodExplanation
The appropriation system provides a specific amount of money for a specific purpose for a specific period. This means that it allocates funds for a particular objective or project within a defined timeframe. This allows for effective financial planning and ensures that resources are allocated appropriately to achieve the desired goals.Rate this question:
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- 42.
Which fund is used initially to construct an NCO open mess facility?
- A.
Nonappropriated funds
- B.
Reimbursable O&M funds
- C.
Military construction appropriation
- D.
Operations and maintenance appropriation
Correct Answer
C. Military construction appropriationExplanation
The correct answer is Military construction appropriation. Military construction appropriation funds are used initially to construct an NCO open mess facility. These funds are specifically allocated for the construction and improvement of military facilities, including mess facilities. Nonappropriated funds are generated by activities such as morale, welfare, and recreation programs and are used for the benefit of the military community. Reimbursable O&M funds are funds reimbursed to the military for services provided to other organizations. Operations and maintenance appropriation funds are used for the day-to-day operations and maintenance of military facilities.Rate this question:
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- 43.
In which civilian pay expense does the responsibility center manager have the most control?
- A.
EEIC 391 - Overtime
- B.
EEIC 393 - Personnel Benefits
- C.
EEIC 390 - Clothing Allowance
- D.
EEIC 392 - Personnel Compensation
Correct Answer
A. EEIC 391 - OvertimeExplanation
The responsibility center manager has the most control over the civilian pay expense in EEIC 391 - Overtime. This means that the manager has the authority to manage and control the amount of overtime pay given to employees. They can determine when overtime is necessary, monitor and regulate the amount of overtime worked, and ensure that it is allocated and paid out appropriately. This level of control allows the manager to effectively manage the budget and expenses related to overtime pay.Rate this question:
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- 44.
Examples of other civilian personnel compensation (EEIC-392) include
- A.
Overtime pay, premium pay, and night work differential
- B.
Overtime pay, cost-of-living allowance, and base pay
- C.
Overtime pay, base pay, and night work differential
- D.
Holiday pay, Sunday payu, and hazardous duty pay
Correct Answer
D. Holiday pay, Sunday payu, and hazardous duty payExplanation
The correct answer is "holiday pay, Sunday pay, and hazardous duty pay" because these are examples of additional compensation that civilian personnel may receive. Overtime pay, premium pay, and night work differential are also forms of additional compensation, but they are not listed in this answer choice. Cost-of-living allowance and base pay are regular components of civilian personnel compensation and are not considered additional compensation.Rate this question:
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- 45.
If temporary duty travel encompasses more than one fiscal year, how are the charges obligated?
- A.
Fiscal year departed
- B.
Fiscal year completed
- C.
Total expenses charged to each fiscal year
- D.
Split expenses according to fiscal year incurred
Correct Answer
D. Split expenses according to fiscal year incurredExplanation
When temporary duty travel spans across multiple fiscal years, the charges are obligated by splitting the expenses according to the fiscal year in which they were incurred. This means that the expenses will be divided and allocated to the respective fiscal years based on when they were accrued. This ensures that the charges are properly accounted for and attributed to the correct fiscal year, allowing for accurate financial reporting and budgeting.Rate this question:
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- 46.
Travel requirements are broken down by categories to portray travel criteria so that
- A.
Travel formats can be computed
- B.
The budget office can determine the justification
- C.
Logical decisions can be made in developing priorities
- D.
Resource advisors are able to summarize computations
Correct Answer
C. Logical decisions can be made in developing prioritiesExplanation
The travel requirements are broken down into categories so that logical decisions can be made in developing priorities. By categorizing the travel criteria, it becomes easier to determine which travel formats are necessary and which ones can be prioritized. This allows for a more efficient allocation of resources and helps in justifying the budget for travel expenses. Additionally, breaking down the requirements into categories enables resource advisors to summarize the computations and provide a clear overview of the travel needs.Rate this question:
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- 47.
Which element of expense/investment code identifies tuition assistance?
- A.
531
- B.
551
- C.
552
- D.
553
Correct Answer
B. 551Explanation
The element of expense/investment code that identifies tuition assistance is 551.Rate this question:
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- 48.
Who is responsible for computing funding requirements for tuition assistance?
- A.
Using activity
- B.
Education office
- C.
Contracting office
- D.
Financial analysis office
Correct Answer
B. Education officeExplanation
The Education office is responsible for computing funding requirements for tuition assistance. They are in charge of determining the amount of funding needed to support tuition assistance programs and ensuring that the necessary funds are allocated appropriately. This office is likely to have the necessary knowledge and expertise to assess the educational needs of individuals and calculate the funding required to meet those needs.Rate this question:
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- 49.
Who makes funds available annually for emergencies and extraordinary expenses (contingencies)?
- A.
Congress
- B.
The President
- C.
Comptroller general
- D.
Under Secretary of Defense (Comptroller)
Correct Answer
A. CongressExplanation
Congress makes funds available annually for emergencies and extraordinary expenses (contingencies). As the legislative branch of the US government, Congress has the power to appropriate funds and allocate them for various purposes, including emergencies and unexpected expenses. This authority is granted to Congress by the Constitution, and it plays a crucial role in the budgeting process. By authorizing and appropriating funds, Congress ensures that the government has the necessary resources to respond to emergencies and address unforeseen circumstances.Rate this question:
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- 50.
Who uses fund requests to reserve funds?
- A.
RA
- B.
RCM
- C.
FMFL
- D.
FMA office
Correct Answer
D. FMA officeExplanation
The FMA office uses fund requests to reserve funds.Rate this question:
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Current Version
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Mar 20, 2023Quiz Edited by
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May 20, 2009Quiz Created by
Bigt2079
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